Consider a perfectly-competitive industry where each firm has the following long run cost function C(q)-q³-18q2 + 122q. where q is the firm's output. What is the long-run equilibrium price in this market? (Round your final answer to two decimal places, if necessary.)

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Chapter22: Perfect Competition
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Question 7
Consider a perfectly-competitive industry where each firm has the following long run cost function
C(q)-q³-18q2 + 122q.
where q is the firm's output. What is the long-run equilibrium price in this market?
(Round your final answer to two decimal places, if necessary.)
Transcribed Image Text:0 Question 7 Consider a perfectly-competitive industry where each firm has the following long run cost function C(q)-q³-18q2 + 122q. where q is the firm's output. What is the long-run equilibrium price in this market? (Round your final answer to two decimal places, if necessary.)
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